Thursday, May 17, 2012

GLD and SLV action today..

I don't trust the pop in GLD and SLV today on the supposed fed front running. I would have expected moves in energy, copper the crb or even stocks but nothing.  If anything today's pop was a set up. I would not be surprised to see all of it come off by the morning along with the excuse the CFTC needs to jack margins sky high as a result of these wild swings. I believe we are near the bottom but may need one more deep shake out...

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